what is the future value of an investment?
When Radu's son was born, he put $ 3,000 in an investment that earns 6.75% compounded monthly. This investment will mature when his son turns 18 and will go straight into an annuity at 3% compounded and paying out monthly at the end of the period. The investment was to help pay for his 4-years of college. Find the size of these monthly payments received by Radu's son during his college stay. For full marks your answer(s) should be rounded to the nearest cent.
Investment best answer:
Answer by Robert M
3000 invested at 6.75% compounded monthly for 18 years = $ 10,076.52
then 4 years at 3% with monthly withdrawals
monthly payments = $ 223.
Investment
YFM's £500,000 investment in Dynmark International Limited
Image by Montage Communications
Oscar Jenkins of Dynmark and Julian Dennard of YFM Group
Orignal From: what is the future value of an investment? and YFM's £500,000 investment in Dynmark International Limited
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